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Albireo Elects Roger Jeffs to Board of Directors

September 28, 2017

Former CEO of rare disease company brings significant orphan drug

development and commercialization experience

BOSTON — September 28, 2017 — Albireo Pharma, Inc. (Nasdaq:ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, today announced the election of Roger Jeffs, Ph.D., to its board of directors. Dr. Jeffs replaces Denise Scots-Knight, Ph.D., who is departing from the board after nearly 10 years of service.

“I’m pleased to join Albireo at such an exciting time, as it prepares to commence a planned Phase 3 clinical trial of A4250 as a treatment for children with the rare liver disease progressive familial intrahepatic cholestasis,” said Dr. Jeffs. “Albireo’s deep experience with bile acid modulation has the potential to result in transformative therapies, and I look forward to working with my colleagues on the board of directors to contribute to the company’s future.”

Currently, Dr. Jeffs serves as a Senior Advisor to United Therapeutics Corporation, a biotechnology company focused in rare diseases, where he worked for 18 years, including as President and co-Chief Executive Officer. Dr. Jeffs helped guide United Therapeutics’ initial public offering, managed its commercial and business development efforts, and oversaw clinical development and regulatory approval of several new drugs.

“We’re pleased to welcome Roger to the Albireo board of directors. He brings more than 25 years of clinical development and pharmaceutical commercialization experience, including the regulatory approval and launch of six rare disease therapies. His experience advancing drugs for orphan conditions and passion for pediatric medicine will be invaluable as Albireo prepares to advance A4250 into planned Phase 3 development,” said David Chiswell, Ph.D., Chairman of Albireo’s Board of Directors. “We extend our most sincere gratitude to Denise for her service. As a founding board member, Denise has played a key role in building Albireo.”

Dr. Jeffs is the co-founder and co-owner of Bull City Select Investments, an investment firm focused on in-licensing and development of early-stage biotechnology assets. Previously, he served as the worldwide clinical leader of the Infectious Disease Program at Amgen Inc. and as a member of the clinical research team at Burroughs Wellcome & Company. In addition to Albireo, Dr. Jeffs is a member on the boards of directors of the public pharmaceutical companies Axsome Therapeutics, Dova Pharmaceuticals and Sangamo Therapeutics. He holds a B.A. in chemistry from Duke University and a Ph.D. in pharmacology from the University of North Carolina School of Medicine.

About Albireo 

Albireo is a clinical-stage biopharmaceutical company focused through its operating subsidiary on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo’s clinical pipeline includes a Phase 3 product candidate, a Phase 2 product candidate and a product candidate for which an application for regulatory approval has been submitted in Japan. Albireo was spun out from AstraZeneca in 2008.

Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary, Albireo AB, is located in Gothenburg, Sweden. For more information on Albireo, please visit www.albireopharma.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements, other than statements of historical fact, regarding: the plans for, or progress or scope of, planned Phase 3 clinical development of A4250 in patients with PFIC; the timing for initiation of the planned Phase 3 PFIC clinical trial for A4250; the competitive position of A4250 or the commercial opportunity in PFIC; or Albireo’s plans, expectations or future operations, financial position, revenues, costs or expenses. Albireo often uses words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “planned,” “continue,” “guidance,” and similar expressions to identify forward-looking statements. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various risks and uncertainties, including, but not limited to, risks and uncertainties relating to: whether favorable findings from clinical trials of A4250 to date, including findings in indications other than PFIC, will be predictive of results from future clinical trials of A4250, including the trials comprising the planned Phase 3 PFIC program; whether either or both of the FDA and EMA will determine that the primary endpoint and duration of the planned double blind Phase 3 trial in patients with PFIC is sufficient, even if such primary endpoint is met with statistical significance, to support approval of A4250 in the United States or the European Union, to treat PFIC, a symptom of PFIC or otherwise; the outcome and interpretation by regulatory authorities of the ongoing third-party study pooling and analyzing long-term PFIC patient data; whether Albireo’s cash resources will be sufficient to advance A4250 through completion of the planned Phase 3 PFIC program; the timing for initiation or completion of, or for availability of data from, ongoing or future trials of A4250, including the trials comprising the planned Phase 3 PFIC program, and the outcomes of such trials; delays or other challenges in the initiation of, or recruitment of patients for, the planned double blind Phase 3 trial; and whether Albireo receives additional feedback from regulatory authorities on the planned Phase 3 PFIC program for A4250 prior to initiation. These and other risks and uncertainties that Albireo faces are described in greater detail under the heading “Risk Factors” in Albireo’s most recent Annual Report on Form 10-K, in Albireo’s Current Report on Form 8-K filed May 23, 2017 and in other filings that it makes with the Securities and Exchange Commission. As a result of risks and uncertainties that Albireo faces, the results or events indicated by any forward-looking statement may not occur. Albireo cautions you not to place undue reliance on any forward-looking statement. In addition, any forward-looking statement in this press release represents Albireo’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Albireo disclaims any obligation to update any forward-looking statement, except as required by applicable law.

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Investor Contact:

Hans Vitzthum

LifeSci Advisors, LLC.

212-915-2568

 

Media Contact:

Heather Anderson

6 Degrees

980-938-0260

handerson@6degreespr.com

 

Source: Albireo Pharma, Inc.

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